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Unit 4 Business Ownership & Operations Flashcards | StudBud

Explore/Unit 4 Business Ownership & Operations

Unit 4 Business Ownership & Operations

10 terms·StudBud Administration·72 plays

Intro to Business

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Questions 10

Answers

1
How many forms of Business Ownership exist?
3
5
4
1
2
which is the easiest form of business to start?
franchise
corporation
Sole Proprietorship
partnership
3
Which is a function of Business?
marketing
production & procurement
management
accounting & finance
4
One disadvantage that corporations face is?
environmental laws
reliability
cost of resources
double taxation
5
How many types of businesses are there?
3
10
5
7
6
Unlimited Liability means?
owner is responsible for accidents that occur on property.
the owner is responsible for the company’s debts.
the owner shares the liability w/the company’s stockholders.
The owner must have insurance
7
Cooperatives were formed to
sell more products.
help people cooperate.
promote each other
save money on the purchase of certain goods and services.
8
What is an example of a non-profit organization?
Burger King
March of Dimes
Mr. Costello
Ocean Spray
9
What is a disadvantage of a sole proprietorship?
unlimited liability
going out of business
sharing the profits
double taxation
10
Consumers usually deal directly with
retailers
distributers
manufacturers.
wholesalers